DTI offers loans for MSMEs in calamity-stricken areas
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NewsTranscript
00:00Today, the Department of Trade and Industry, or DTI, launched its Enterprise Rehabilitation
00:05Financing Program to support recovery of MSMEs affected by recent typhoons.
00:12The program aims to serve as a lifeline and provide assistance to small business owners,
00:18particularly those who suffer damage and hit hard by Typhoon Christine, as well as those
00:24in areas declared under state of calamity by the NDRRMC.
00:30According to the DTI, MSMEs may apply for loans of up to 300,000 pesos with zero interest
00:37and no principal payment required for the first year.
00:40The loan will have an interest rate of 1% for the second year and third years.
00:45Applicants need only submit a government-issued DID, Mayor's Permit, Proof of Bank Account,
00:52and other documents which can be found on the agency's website.